A pigment is a chemical material, which alters the colour of reflected or transmitted light due to wavelength-selective absorption. Pigmentation is entirely different from fluorescence, phosphorescence and other forms of luminescence, where materials emit light. Dyes are substances, which are naturally coloured and have an affinity for the substrate to which it is being applied, according to a report by Persistence Market Research.
Based on product, the pigments and dyes market is classified into two parts, namely dyes and organic pigments, and inorganic pigments. Dyes can be further classified into reactive dyes, disperse dyes, sulphur dyes, VAT dyes, acid dyes, direct dyes, basic dyes and others. Organic pigments are further classified into azo, phthalocyanines blues and greens, and high-performance pigments.
Inorganic pigments are categorised as titanium dioxide, iron oxide and others. Based on application, the pigments and dyes market is classified into textiles, leather, paper, paints and coatings, plastics, constructions, paper & speciality, printing inks and others.
Dyes and pigments find multiple applications in paints & coatings, printing inks, textile, construction and plastics. The paints & coatings industry is witnessing major growth due to growing infrastructure.
Major driving factors of the pigments and dyes market are increasing demand for high-performance pigments (HPP), increasing usage of environment-friendly products and application in end-user industries.
Demand for pigment and dye products such as printing ink is driven by several factors such as technological development and increasing demand for digital inks. The increase in end-user preference for environment-friendly products is likely to drive the growth of the dyes and pigments market in the near future.
Some of the factors restraining the growth of the pigments and dyes market are environmental concerns, raw material price volatility and it’s global over capacity. Some of the recent trends in the pigments and dyes market are shifting of manufacturing facilities from the US and Europe to India, China and Taiwan, and the rising preferences for eco-friendly products. Since speciality pigments are eco-friendly in nature, they are expected to increase demand for pigments and dyes.
With its emerging economies and quickly growing manufacturing bases, Asia-Pacific accounts for the largest market and is likely to remain as the highest growing region in the years to come. It is also said to be growing due to the emerging trend of shifting of manufacturing facilities from the US and Europe to India, China and Taiwan. There is also an increasing preference towards eco-friendly products. Asia Pacific is said to grow further followed by North America and Europe.
Some of the key players in the pigments and dyes market include Cathay Pigments Inc, Sun Chemical Corporation, Dainichiseika Color & Chemicals Mfg Co Ltd, E I du Pont de Nemours and Company, Ferro Corp, Flint Group, Heubach GmbH, Huntsman International LLC, Ishihara Corporation, Kemira Oyj, Kronos Worldwide Inc, Lanxess AG, Merck KGAA, Silberline Manufacturing Co Inc, The Shepherd Color Company, Toyo Ink SC Holdings Co Ltd and Tronox Inc.
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